If a person dies without signing a will, they die “intestate” and the laws of the State in which they live will determine who (heirs at law) and in what amounts their property will be distributed. This is regardless of what your wishes may have been before death. For people with minor children, a will is important for naming the guardian of your children
However, for most estates, a will requires that a Probate case be opened with the Court to manage and conclude the decedent’s affairs. This can take significant time (sometimes years), and cause your estate to incur significant attorney fees, which can greatly diminish the assets left to distribute to your heirs.
The amount of property you can pass to heirs without paying federal Estate Taxes is limited by federal statute.
The Collins & Khan Revocable Trust Package includes all your family needs to create an estate plan to control and leave to your heirs estates up to $10,000,000. Your revocable trust allows you to double the amount of property you leave to your heirs without incurring estate taxes. The creation of a revocable trust will also allow you to avoid probate entirely, as your appointed trustee will distribute your property privately according to the terms of your trust.